Teller raises 1million dollars for crypto credit loans

[Honny143 13612]

Teller leading protocol built a team of graduate's of andreeson Horowitz's crypto school, whose aim is to push DeFi back to its traditional form and should again harbour its centralized roots, decentralized finance is a multi billion dollar industry because of its accessibility of easy crypto loans, but decentralized protocol has credit risk which makes the p2p loan demand's loaded, with hefty upfront cash are high interest rates,

 

Teller urges the user's connect their credit score with its protocol, this implements that users with high credit scores will be able to take DeFi loans from a lending protocol like Save compound are maker with less collateral are with a lower interest rates, and this DeFi loans also feedback into the credit score, default on a loan and Teller will send the debt collector's after you and your credit score will lower meaning it will be harder to get a loan at regular traditional banks.

 

Source -Decrypt

[Captain Karim 0]

Many Crypto projects have recently become talking about their shift towards DeFi, well it was a big bubble that lasted for several months and then burst in the end, now as we see most of DeFi's projects, their prices have fallen 90% or more, 2020 is definitely the year of DeFi's fraud.

[TimopheyKa 3900]

I think, in this way, the team that develops this project has found a more profitable and successful solution for themselves, as well as very relevant in our years, and accordingly, they plan to move very far with such methods, as well as raise the rate of their coins!

[Shaza Ahmad 1682]

This appears to be a link between the centralized work system and the decentralized, so sending this data to the central banks will be considered a match between centralized financing and decentralized financing, but frankly there are still many concerns about decentralized financing projects, most of which are being penetrated.

[Amiami 1362]

It is interesting that there is an association between the entities, so that the irresponsible respond both in the virtual and physical fields, since their credit history would be affected both inside and outside the platform, although the truth is that crypto loans are too expensive  .

[Cryptomint 433]

There are many cryptocurrencies which are moving on DeFi. And many are thinking about this. I think the cryptocurrencies world will accept the DeFi soon.

[percare 3192]

DeFi being decentralized doesn't ask for loan scores, this is a creation by banks but it didn't help them in many ways, just reduced some scams. Defi doesn't ask who you are this is the importance, it doesn't focus on the person but in all people and gives access to everyone to financial products. I haven't heard news of Teller for months and it wasn't very famous during the Defi season earlier.